Corporate Telephony Market to Grow with Significant CAGR in Coming Years says P&S Intelligence

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The corporate telephony market is categorized into banking, financial services, and insurance (BFSI), retail, government, IT, healthcare, and manufacturing, depending on industry. Out of these, the IT category held the largest share in the market in 2020. This is ascribed to the surging adoption of the corporate telephony technology in the IT sector, on account of its simple, flexible, and cost-effective nature.

The corporate telephony market is also divided into key telephony system, internet protocol-private branch exchange (IP-PBX), and wireless private brand exchange, based on technology. Amongst these, the IP-PBX category is predicted to exhibit substantial expansion during the forecast period, due to the various benefits of this technology such as worry-free scalability and robustness.

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Geographically, North America dominated the corporate telephony market in 2020. This is credited to the surging competition between industry players, growing use of unified communication systems, soaring investments being made by market players, and the presence of numerous end users in the region.

The players in the corporate telephony market are focusing on developing new products to gain an edge over their rivals.

In March 2021, Avaya Inc. developed two video devices namely the Avaya Huddle Camera HC010 and the Avaya Vantage K155 equipped with built-in Alexa, with the help of the Avaya Inc. devices as a service (DaaS) offering. These devices can be used by paying a small monthly fee. The main objective behind launching these devices was to enhance workstream collaboration.

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International Business Machines Corporation (IBM), NEC Enterprise Solutions, Cisco Systems Inc., Huawei Technologies Co. Ltd., Mitel Networks Corp., Interactive Intelligence Group Inc., Microsoft Corporation, Siemens Aktiengesellschaft, Avaya Inc., and Atos SE are some of the major players in the global corporate telephony market.

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